The SmartAid Index measures and rates the way funders with an interest in microfinance work. The premise of SmartAid is simple: funders with strong management systems are better equipped to support financial inclusion effectively. Its indicators assess five areas agreed by all funders as critical for effective financial inclusion: strategic clarity, staff capacity, accountability for results, knowledge management, and appropriate instruments.
The European Investment Fund (EIF) received 70 out of 100 points, meaning that overall it has “good” systems in place to support microfinance.EIF is part of the European Investment Bank Group focusing on Europe’s small and medium enterprise sector (SMEs). EIF’s role is to develop and offer targeted financial products to partner financial institutions in the 27 countries of the European Union (EU) to enhance SME access to finance. Its strategy is aligned with the EU’s long-term vision for improving social inclusion and creating self-employment opportunities.